Lloyds Banking Group (NYSE:LYG) Sees Unusually-High Trading Volume - Time to Buy?

Lloyds Banking Group plc (NYSE:LYG - Get Free Report) shares saw strong trading volume on Friday . 5,607,658 shares traded hands during mid-day trading, a decline of 17% from the previous session's volume of 6,743,076 shares.The stock last traded at $2.68 and had previously closed at $2.70.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group initiated coverage on shares of Lloyds Banking Group in a research note on Friday, October 4th. They issued a "neutral" rating for the company. Morgan Stanley lowered Lloyds Banking Group from an "overweight" rating to an "equal weight" rating in a report on Wednesday, October 30th. Finally, Kepler Capital Markets assumed coverage on Lloyds Banking Group in a research note on Thursday, September 5th. They issued a "hold" rating for the company. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Lloyds Banking Group currently has a consensus rating of "Hold" and an average price target of $2.75.

Lloyds Banking Group Stock Down 0.4 %

The stock has a market capitalization of $40.76 billion, a price-to-earnings ratio of 6.90 and a beta of 1.31. The company has a quick ratio of 1.48, a current ratio of 1.45 and a debt-to-equity ratio of 1.76. The stock has a 50 day moving average price of $2.75 and a 200 day moving average price of $2.91.

Institutional Trading of Lloyds Banking Group

Institutional investors have recently bought and sold shares of the company. Lazari Capital Management Inc. increased its stake in Lloyds Banking Group by 19.8% in the third quarter. Lazari Capital Management Inc. now owns 20,391 shares of the financial services provider's stock valued at $64,000 after purchasing an additional 3,371 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in Lloyds Banking Group by 6.1% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 65,320 shares of the financial services provider's stock worth $204,000 after buying an additional 3,734 shares during the period. Baron Wealth Management LLC grew its stake in Lloyds Banking Group by 30.8% in the third quarter. Baron Wealth Management LLC now owns 16,851 shares of the financial services provider's stock valued at $53,000 after acquiring an additional 3,969 shares during the period. Angeles Investment Advisors LLC increased its holdings in shares of Lloyds Banking Group by 38.6% during the second quarter. Angeles Investment Advisors LLC now owns 15,290 shares of the financial services provider's stock valued at $42,000 after acquiring an additional 4,262 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC raised its position in shares of Lloyds Banking Group by 4.7% during the third quarter. Dynamic Advisor Solutions LLC now owns 97,258 shares of the financial services provider's stock worth $303,000 after purchasing an additional 4,337 shares during the period. Institutional investors own 2.15% of the company's stock.

About Lloyds Banking Group

Lloyds Banking Group plc, together with its subsidiaries, provides a range of banking and financial services in the United Kingdom and internationally. It operates in three segments: Retail; Commercial Banking; and Insurance, Pensions and Investments. The Retail segment offers a range of financial service products, including current accounts, savings, mortgages, motor finance, unsecured loans, leasing solutions, and credit cards to personal customers.